Domain Names
10 Reasons Why A Premium Domain Name Is Good For Business
Buying a premium domain name represents an investment in your business. Here's ten reasons why owning one will pay big dividends.
A domain name can be registered for the price of a coffee and a Danish pastry.
However, the chances are that the domain name that is perfect for your business has already been registered.
If it is available for sale, count yourself lucky because it means you have the opportunity to buy it before one of your competitors does. The downside is that the best domain names don't change hands for pocket money: they command a premium, hence the term premium domain name. Many sell for thousands of pounds, with the very best premium domain names regularly reaching six or seven figures.
But that downside has a silver lining. A good domain name is an investment in your business that will pay dividends for years to come. It can even pay for itself in a surprisingly short time.
Here's 10 reasons why a premium domain name is worth every penny to your business.
In the online world, your domain name is also your brand. The smallest of businesses can punch well above their weight simply by choosing a knockout domain name.
Trust is a crucial element of online success. A premium domain is more likely to be trusted because it's assumed that the most established businesses have the best domain names.
The more memorable your domain name, the better. Business booms when potential customers remember your domain name the first time, and existing customers recall it a second time. When a customer struggles to remember it, you're inviting them to "Google it" and pick you out of a line-up of your competitors vying for their custom.
You will spend less promoting a memorable domain name than you will one that isn't instantly recalled by potential customers.
Some domain names are called "category killers" because they immediately establish you as a major player. With this brand positioning comes authority in the market place.
Click-Through Rate (CTR) measures the percentage of people who see an ad, link, or other call to action, and who then click on it. The higher the CTR, the better, and studies have shown that people are more likely to click on a Google Ad or a search engine result if the domain name conveys trust and authority.
Because CTR is a ranking factor for Google, a premium domain name benefits your business in two ways:
In terms of SEO, the higher you rank for keyword search terms, the more times you appear in front of potential customers in Google searches. A high CTR signals to Google that your website should be ranked higher because its users are choosing to visit your website, validating your high ranking.
For SEM, a higher CTR means you are spending less per click and less to outperform your competitors. This is because Google once again uses CTR as a ranking factor. Supposing you are bidding £2.50 per click and get two clicks per hour. Google earns £5. Suppose a competitor bids £3 a click, but only gets one click per hour. Google earns £3. So even though you are bidding less, the higher CTR means Google earns more, and it rewards you by displaying your ad above the competitor's. Why outbid a competitor when you can outsmart them?!
Bottom line, the more clicks, the more potential customers landing on your page, the more customers, the more sales.
Domain names are not just about the internet. When a potential customer sees one of your vans or a newspaper ad, the more memorable your domain name, the easier it is for them to remember you and find you.
When you are a start-up or a small business it can be difficult to form relationships with larger partners. Other businesses will take you more seriously when you own a premium domain name, making relationship building that much easier.
If you pass up the opportunity to own a great name for your business, chances are one of your competitors will come along at some point and snap it up. When they do, every extra customer they attract is one less for you to serve.
A good domain name has value, and as more business moves online, that value will increase. So when you come to sell your business, your domain name can help boost the asking price.
We believe that one of the things that truly sets us apart from other digital marketing agencies is our understanding of domain names and their importance to business success.
If you are interested in purchasing one of our domain names, or need help with brokering a domain name purchase elsewhere, just fill in the form on our Contact page.
Last updated: 25th of March 2021
However, the chances are that the domain name that is perfect for your business has already been registered.
If it is available for sale, count yourself lucky because it means you have the opportunity to buy it before one of your competitors does. The downside is that the best domain names don't change hands for pocket money: they command a premium, hence the term premium domain name. Many sell for thousands of pounds, with the very best premium domain names regularly reaching six or seven figures.
But that downside has a silver lining. A good domain name is an investment in your business that will pay dividends for years to come. It can even pay for itself in a surprisingly short time.
Here's 10 reasons why a premium domain name is worth every penny to your business.
1. Your domain name is your brand online
In the online world, your domain name is also your brand. The smallest of businesses can punch well above their weight simply by choosing a knockout domain name.
2. A premium domain name oozes trust
Trust is a crucial element of online success. A premium domain is more likely to be trusted because it's assumed that the most established businesses have the best domain names.
3. A great domain name is memorable
The more memorable your domain name, the better. Business booms when potential customers remember your domain name the first time, and existing customers recall it a second time. When a customer struggles to remember it, you're inviting them to "Google it" and pick you out of a line-up of your competitors vying for their custom.
4. A memorable domain name means less marketing spend
You will spend less promoting a memorable domain name than you will one that isn't instantly recalled by potential customers.
5. A premium domain puts you in pole position
Some domain names are called "category killers" because they immediately establish you as a major player. With this brand positioning comes authority in the market place.
6. The best domain names enjoy higher click-through rates
Click-Through Rate (CTR) measures the percentage of people who see an ad, link, or other call to action, and who then click on it. The higher the CTR, the better, and studies have shown that people are more likely to click on a Google Ad or a search engine result if the domain name conveys trust and authority.
Because CTR is a ranking factor for Google, a premium domain name benefits your business in two ways:
Bottom line, the more clicks, the more potential customers landing on your page, the more customers, the more sales.
7. Domain Names work offline too
Domain names are not just about the internet. When a potential customer sees one of your vans or a newspaper ad, the more memorable your domain name, the easier it is for them to remember you and find you.
8. A top domain name means you'll be taken seriously by suppliers
When you are a start-up or a small business it can be difficult to form relationships with larger partners. Other businesses will take you more seriously when you own a premium domain name, making relationship building that much easier.
9. There's a cost to not owning the best domain name too
If you pass up the opportunity to own a great name for your business, chances are one of your competitors will come along at some point and snap it up. When they do, every extra customer they attract is one less for you to serve.
10. A premium domain name is a business asset
A good domain name has value, and as more business moves online, that value will increase. So when you come to sell your business, your domain name can help boost the asking price.
Brandwise can help you find the ideal domain name for your business
We believe that one of the things that truly sets us apart from other digital marketing agencies is our understanding of domain names and their importance to business success.
If you are interested in purchasing one of our domain names, or need help with brokering a domain name purchase elsewhere, just fill in the form on our Contact page.
Last updated: 25th of March 2021
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